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US Trustee Rips Simplexity's 'A La Carte' Bankruptcy Deal

By Matt Chiappardi (December 9, 2014, 9:01 PM EST) -- The federal bankruptcy watchdog took issue Tuesday with a settlement struck among the estate of cellphone activator Simplexity LLC, its creditors committee, and senior lender Fifth Third Bank, arguing it violates the Chapter 11 payment priority and urging the court to immediately convert the case to a Chapter 7 proceeding....

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